Elective II -

(1) INCOME TAX LAW AND PRACTICES II

Theory : 15
Problems : 60
UNIT I
Income under capital gains Short term, long term capital gains certain transactions not
included as transfer cost of acquisition cost of improvement Indexation of cost- Capital
gains under different circumstances- Exempted capital gains- computation of capital gains.
UNIT II
Income from other sources their computation grossing up deductions in computing
income under the head and other related provisions.
UNIT III
Clubbing of Income Deemed incomes Provisions of the Act relating to clubbing of
income Set off - Carry forward and set off of losses.
UNIT IV
Permissible deductions from gross total income Sec. 80C, 80CCC, 80CCCD, 80DD,
80DDB, 80E, 80G,80GG,80GGA, 80QQB, 80RRB, 80U - Assessment of Individual (Covering
Capital gains, Income from other sources including the above mentioned deductions
Computation of Tax).
UNIT V
Income Tax Authorities Powers of the central Board of Direct Taxes (CBDT),
Commissioners of Income Tax and Income Tax officers Assessment Procedures Self
Assessment Best Judgement Assessment Income Escaping Assessment (Re assessment) Advance payment of Tax Meaning and Due dates Deduction of Tax at source - Meaning.
References Books
1. Students Guide to Income Tax Dr. Vinod K. Singhania, Taxman Publications Pvt. Ltd.
2. Income Tax Law & Accounts, Dr. Mehrotra & Goyal Sahitya Bhavan Publications.
3. Income Tax Law & Practice V.P. Gaur & D.B. Narang Kalyani Publishers.
4. Income Tax Theory, Law & Practice T.S. Reddy and Y Hariprasad Reddy Margham
Publications.